INFIPATZ: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
INFIPATZ
Largest movements
- Current investments +€82,755
up €82,755 (+78.8%), from €105,000 to €187,755
- Cash -€50,375
down €50,375 (-87.5%), from €57,545 to €7,171
mainly Current investments (-€82,755) and Deferred charges and accrued income (-€15,056)
- Deferred charges and accrued income +€15,056
up €15,056 (+308%), from €4,886 to €19,942
- Receivables within one year -€9,516
down €9,516 (-26.4%), from €36,043 to €26,527
of which Other amounts receivable: -€9,487
- Tangible fixed assets -€3,033
down €3,033 (-8.4%), from €36,157 to €33,124
of which Other tangible fixed assets: -€3,750
- Reserves +€41,446
up €41,446 (+57.9%), from €71,576 to €113,022
of which Distributable reserves: +€41,446
- Other debts -€4,670
down €4,670 (-44.5%), from €10,500 to €5,830
- Gross operating margin +€29,724
up €29,724 (+86.3%), from €34,447 to €64,171
- Taxes +€9,607
up €9,607 (+147%), from €6,519 to €16,126
- Financial charges +€2,347
up €2,347 (+794%), from €296 to €2,642
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €242,631 | €277,519 | +€34,887 | +14.4% |
| Fixed assets | 21/28 | €39,157 | €36,124 | -€3,033 | -7.7% |
| Tangible fixed assets | 22/27 | €36,157 | €33,124 | -€3,033 | -8.4% |
| Furniture and vehicles | 24 | €809 | €1,526 | +€717 | +88.7% |
| Other tangible fixed assets | 26 | €35,348 | €31,598 | -€3,750 | -10.6% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €203,474 | €241,395 | +€37,921 | +18.6% |
| Amounts receivable within one year | 40/41 | €36,043 | €26,527 | -€9,516 | -26.4% |
| Trade receivables | 40 | €7,578 | €7,549 | -€29 | -0.4% |
| Other amounts receivable | 41 | €28,465 | €18,978 | -€9,487 | -33.3% |
| Current investments | 50/53 | €105,000 | €187,755 | +€82,755 | +78.8% |
| Cash at bank and in hand | 54/58 | €57,545 | €7,171 | -€50,375 | -87.5% |
| Deferred charges and accrued income | 490/1 | €4,886 | €19,942 | +€15,056 | +308% |
| Total equity and liabilities | 10/49 | €242,631 | €277,519 | +€34,887 | +14.4% |
| Equity | 10/15 | €90,176 | €131,622 | +€41,446 | +46.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €71,576 | €113,022 | +€41,446 | +57.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €69,716 | €111,162 | +€41,446 | +59.4% |
| Provisions and deferred taxes | 16 | €130,500 | €130,500 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €130,500 | €130,500 | = | 0.0% |
| Other liabilities and charges | 164/5 | €130,500 | €130,500 | = | 0.0% |
| Amounts payable | 17/49 | €21,955 | €15,397 | -€6,558 | -29.9% |
| Amounts payable within one year | 42/48 | €21,955 | €15,397 | -€6,558 | -29.9% |
| Trade debts | 44 | €1,337 | - | -€1,337 | |
| Suppliers | 440/4 | €1,337 | - | -€1,337 | |
| Taxes, remuneration and social security | 45 | €10,118 | €9,567 | -€552 | -5.5% |
| Taxes | 450/3 | €7,675 | €7,029 | -€646 | -8.4% |
| Remuneration and social security | 454/9 | €2,443 | €2,538 | +€94 | +3.9% |
| Other amounts payable | 47/48 | €10,500 | €5,830 | -€4,670 | -44.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,736 | €4,259 | +€523 | +14.0% |
| Other operating charges | 640/8 | €1,038 | €991 | -€46 | -4.5% |
| Gross operating margin | 9900 | €34,447 | €64,171 | +€29,724 | +86.3% |
| Operating profit (loss) | 9901 | €29,673 | €58,921 | +€29,248 | +98.6% |
| Financial income | 75/76B | €1,857 | €1,294 | -€563 | -30.3% |
| Recurring financial income | 75 | €1,857 | €1,294 | -€563 | -30.3% |
| Financial charges | 65/66B | €296 | €2,642 | +€2,347 | +794% |
| Recurring financial charges | 65 | €296 | €2,642 | +€2,347 | +794% |
| Profit (loss) for the period before taxes | 9903 | €31,235 | €57,572 | +€26,338 | +84.3% |
| Income taxes | 67/77 | €6,519 | €16,126 | +€9,607 | +147% |
| Profit (loss) for the period | 9904 | €24,716 | €41,446 | +€16,730 | +67.7% |
| Profit (loss) for the period to be appropriated | 9905 | €24,716 | €41,446 | +€16,730 | +67.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.